Marketers Reduce Fuel Prices At Depots, Filling Stations
- Private depot owners have adjusted their petrol prices amid a rise in crude oil prices
- The latest movements show mixed trends in product pricing across key depots
- The price competition in the downstream sector is expected to influence how much Nigerians pay at filling stations
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Oil marketers made changes to fuel prices last week (April 20 and 24, 2026) across Nigeria following a rise in global crude oil, which climbed to $105.7 per barrel on Friday, April 24.
Source: Getty Images
Depot petrol prices change
Data obtained from Petroluemprice.ng showed that in Lagos, PMS prices recorded mixed movement across major marketers, with Rain Oil rising from N1206 to N1230.
While Bono eased slightly from N1207 to N1205. Ascon, Nipco, and Aiteo saw marginal declines within the N1204 to N1206 range, while Pinnacle remained stable at N1204.
Ascon, NIPCO, and Aiteo slightly reduced their ex-depot petrol within the N1204 to N1206 range, while Pinnacle remained stable at N1204.
Diesel prices
In contrast, Lagos AGO prices rose sharply across major operators, with Nipco moving from N1755 to as high as N1880, Duport climbing from N1760 to N2000, Ibachem rising to N1930, and TMDK advancing to N1905.
In Warri, PMS prices were largely stable but edged lower across most depots, with Matrix, Rain Oil, Prudent, and Nepal all easing from about N1230 to N1220.
However, AGO prices in the region moved higher, with Matrix rising from N1835 to N1950, while Danmarna, Nipco, and First Fortune all advanced to around N1900.
Port Harcourt PMS prices remained unchanged at N1230, indicating balanced supply and demand conditions, while AGO prices strengthened significantly, with Sigmund and Matrix both rising to N1950 from earlier lower levels.
In Calabar, PMS prices remained flat at N1230 across depots throughout the period, reflecting stable supply conditions and subdued demand.
Source: Getty Images
Filling station reduces petrol pumps
Fuel retailers have also lowered petrol prices in a bid to attract more customers, with noticeable adjustments recorded in Abuja and surrounding areas.
Market observations on Friday, April 24, 2026, showed pump prices dropping to about N1,295 per litre, compared to the previous average of N1,330.
This represents a reduction of N35 per litre, the Guardian reports.
The Nigerian National Petroleum Company Limited (NNPCL), MRS, AP (Ardova), and NIPCO kept prices within N1,230 to N1,295 per litre in Lagos and Abuja.
Marketers unveil true cost of aviation fuel
Legit.ng earlier reported that Nigeria’s aviation sector is on edge as a fierce dispute over the price of aviation fuel threatens to disrupt domestic flight operations.
The Major Energies Marketers Association of Nigeria (MEMAN) has pushed back against claims by the Airline Operators of Nigeria (AON) that Jet A1 fuel now costs as high as ₦3,300 per litre, a figure airlines say is forcing them toward a potential shutdown.
MEMAN expressed surprise at the ₦3,300 per litre figure, describing it as significantly above prevailing market rates.
Source: Legit.ng
